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Financial Authorities Pull Cloak of Anonymity From Cryptocurrency via ID System

SEOUL, Jan. 15 (Korea Bizwire) – The Financial Supervisory Service (FSC) has crafted a rewards-and-penalties system to persuade cryptocurrency investors to provide identification information prior to conducting transactions. An individual at one of South Korea’s financial regulatory agencies said, “Since banning cryptocurrency transactions outright will take a considerable amount of time, [the FSC] will look [...]

Cryptocurrency Investors in S. Korea Enter Unregulated Market at Their Own Peril

SEOUL, Dec. 21 (Korea Bizwire) – In the aftermath of the cyptocurrency exchange Youbit declaring bankruptcy, the lack of oversight and serious risks investors take in pursuit of profits are increasingly becoming the focus of conversation. Industry watchers said on December 20 that there are currently 20 cryptocurrency exchanges in operation, with 10 preparing to [...]